Updated Triplex with Multiple
New
For Sale
$475,000
430 HYKES MILL ROAD, Manchester, PA 17345
Updated residential income property with a separate apartment, extensive garage space, and a recently installed septic system.
Property Size1,482 SF
Price / SF$320.51
Days on Market4
Property Features for 430 HYKES MILL ROAD
General Information
Standard status
Active
Size
1,482 SF
Property subtype
Triplex
Additional Details
Multifamily Units
2
Building Details
Year Built
1938
Listing Agency:
Coldwell Banker Realty
(717) 757-2717
Listed By:
Francesco Joseph Messina · License #rs358065
(717) 542-2428
Source:
Cummingsrealtors
Added: Sep 2
Changed: Sep 4
Last Checked: Sep 4 at 3:13PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This residential income property, classified as a triplex, includes an updated main residence and a separate rear apartment with its own garage. An additional garage accommodates up to three vehicles, while a lower-level garage and shop area provides space for storage, hobbies, or other uses where permitted. Both living areas have been updated, and a new septic system has been installed.
Built in 1938, the property is located at 430 Hykes Mill Road in Manchester, Pennsylvania. The combination of multiple living spaces and several garage areas provides a flexible configuration for residential occupancy, vehicle storage, workshop use, or other supported applications.
Built in 1938, the property is located at 430 Hykes Mill Road in Manchester, Pennsylvania. The combination of multiple living spaces and several garage areas provides a flexible configuration for residential occupancy, vehicle storage, workshop use, or other supported applications.
Key Highlights
- Updated main residence and separate rear apartment
- Separate apartment includes its own garage
- Additional garage accommodates up to three vehicles
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$14,705
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.10%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$294,100
$294.1K
Cap Rate 7%
$210,071
$210.1K
Cap Rate 9%
$163,389
$163.4K
Market Conditions
NOI Build-Up for 1,482 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$22.2K $15.00/SF
− Vacancy
−$1.2K −$0.83/SF
EGI
$21.0K $14.17/SF
− OpEx
−$6.3K −$4.25/SF
NOI
$14.7K $9.92/SF
Area
York County, PA
Vacancy
5.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$294,100
Cap Rate 7%
$210,071
Cap Rate 9%
$163,389
Alternative Uses
Best Use
Multifamily LT 5
$210.1K
$183.8K – $245.1K
NOI $14,705 @ 7.0% cap · market cap 3.10%
Second Best
Apartment 5plus
$195.1K
$170.7K – $227.7K
NOI $13,659 @ 7.0% cap · market cap 2.88%
Theoretical Best
Office A
$429.1K
$375.5K – $500.6K
NOI $30,036 @ 7.0% cap · market cap 6.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
37
Businesses Nearby
Explore this area
Business Placement
Demographics for 17345, PA
8,122
Population
3,616
Households
2.2
Avg Household Size
42
Median Age
22%
College-Educated
90%
High-School Grad
12.0 sq mi
ZIP Area
677
Density / Sq Mi
$83,556
Median Household Income
$48,333
Median Earnings
$1,150
Median Rent
$204,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Updated residential income property with a separate apartment, extensive garage space, and a recently installed septic system.
Where is this triplex located?
The property is located at 430 HYKES MILL ROAD Manchester, PA.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Updated main residence and separate rear apartment; Separate apartment includes its own garage; Additional garage accommodates up to three vehicles
